Through the expanded Fidelity managed account program, employees will benefit from “ongoing, proactive engagement, including expanded annual checkups, reminders, and information that addresses their specific investment needs, to help them stay on track toward their financial goals.”
The second whitepaper in a series says financial wellness is centered around four core principles: financial awareness, financial health, financial security and financial inclusion.
The decision points to mailings and various other disclosures sent by Checksmart to the defendant over the years leading up to this litigation as reasons for applying ERISA’s shorter, three-year statute of limitations period.
The committee was told that benefit cuts are not the answer and was urged to reform withdrawal liability rules.
INSIDE THE MAGAZINE PLANSPONSOR April/May 2018
What are the rules for locating missing retirement plan participants and what should plan sponsors do when they’re found?
Offering defined contribution (DC) retirement plan participants the chance to take a loan from their accounts encourages participants to join the plan because they feel they have access to their money, but taking a loan from the plan could possibly be detrimental to participants’ overall retirement savings outcomes.
Industry expert replaces BPAS SVP of Fiduciary Services; USI Consulting employs VP of Retirement Services; Cafaro Greenleaf announces addition of investment analyst; and more.
Among the bills approved by the House Ways and Means Committee is one that would qualify significantly more health treatments, services and over-the-counter drugs for HSA spending.
However, the Center for Retirement Research (CRR) at Boston College found portfolio allocation did account for about one-quarter of the total 16-year underperformance for bottom quartile plans.
Navnoor Kang allegedly used his position to direct up to $2.5 billion in state business to registered representatives at two different broker/dealers.
A new law would raise the contribution limit for SIMPLE plans from $12,500 to $15,500 for the smallest businesses and give businesses with 26 to 100 employees the option of the higher limits.
Vanguard expands commission-free ETF transactions; MassMutual and T. Rowe Price create TDF collaboration; Johnson Investment Counsel adds Charles River as wealth management business; and more.
In conclusion, IZA says, “the data do not support the idea that presenting optional 401(k) plan information in a simpler, more compact way will improve employees’ retirement planning choices. However, we did find that financial literacy was positively associated with better choices."
Goals like paying off student loans, reducing debt and saving for college can be linked to the tool so users can keep track of their progress.